Letter of Credit

Letter of credit is the most secured form of payment when concluding sales or other type of commercial transaction. It is especially important when concluding an international transaction, when the buyer and seller do not know each other well and do not have a high degree of mutual trust

In the case of a letter of credit, the payment is made only when all the conditions provided by the same letter of credit are fully met. JSC Liberty Bank offers both local and international letters of credit.

Benefits for the Buyer / Importer:

  • Payment is made to the seller (your partner) only after the seller proves the fulfillment of the letter of credit conditions with documents;
  • Control over product delivery / completion time;
  • In some cases, quality control of delivered products / performed works;
  • Possibility to obtain better short-term or long-term financing terms from the bank;
  • Possibility to receive payment deferral in some cases.

Benefits for Seller / Exporter

  • Payment is guaranteed by the bank to the seller (you) after the submission of documents required by letter of credit evidencing delivery/shipment of the goods and/or the performance of the works;
  • Possibility to receivefunds in advance for the seller (you) upon shipment/delivery of the goods and/or completion of the works (letter of credit discounting).

For additional information, please contact us: